Daily Debrief: What Happened Today (Jun 4)

Stories you might have missed

Marco Polo Marine shares plans to unlock value as boutique fund manager becomes substantial shareholder

[SINGAPORE] For years, Marco Polo Marine has been flying under investors’ radar – operating a respectable but staid marine logistics business. But its move to carve out and inject its shipyard business into Fuji Offset Plates Manufacturing, a multi-decade listco on the Singapore Exchange, has piqued the interest of the market.

Singapore Kitchen CEO, senior manager charged with alleged fraud, falsifying accounts; both to stay in jobs for now

[SINGAPORE] Singapore Kitchen Equipment’s (SKE) chief executive officer and senior manager were charged in relation to a probe by the Commercial Affairs Department. SKE on Thursday said its CEO Sally Chua Chwee Choo, who is also SKE’s executive director, and senior manager Charlene Koh Sai Eng, were charged on Jun 2.

Jardines has survived wars and market collapses. Can it survive the digital age?

​[SINGAPORE] With a history spanning nearly two centuries tracing back to its roots as an opium trading house, Jardine Matheson has survived empires, wars and market collapses. ​But can a venerable hong whose origins predate the modern corporate era survive the digital economy and fast-moving technological disruption?

Indonesia’s sector stalwarts are growing, yet many are disappearing from global indices

[JAKARTA] Indonesia’s biggest listed companies are increasingly being excluded from major global stock indices, raising concerns that South-east Asia’s largest economy is becoming less investable despite producing some of the region’s most valuable firms.

Despite backtracking on climate commitments, HSBC says it is ‘more ambitious’ on its net-zero strategy

[SINGAPORE] Europe’s largest bank HSBC said that it is “more ambitious” in its net-zero strategy, despite previously pushing back on its climate targets. The bank’s global head of sustainable finance and transition Natalie Blyth told BT that it is focusing on commercialisation in the next phase of its sustainable financing road map, instead of just target setting.

COE: Commercial vehicle premium hits all-time high of $94,000, surpassing previous record at last tender

[SINGAPORE] The price of a Category A certificate of entitlement (COE) increased by 1.4 per cent on Thursday (Jun 4) to S$126,009, while the price for cars in Category B dipped 1.9 per cent to S$126,989. This means there is only a S$980 difference between the premiums for Categories A and B.